If you have ever been shopping at a big box department store, chances are someone has asked if you want to sign up for a store credit card.

You usually get an initial discount up front if your application is approved.

Once you're signed up, bonus coupons and special discounts keep customers coming back and spending more. Usually, those store credit cards also come with higher interest rates.

The rate on store credit cards is about 23 percent versus 15 percent for the average credit card.

If you pay off your balance every month, it's not a problem. But if you don't, those higher interest rates can hurt.

There are some advantages to store credit cards, though. If you don't qualify for major credit cards, store cards are easier to get and can help build your credit.

Customers should be careful not to get too many. Every time you sign up, there's an inquiry on your credit, which could lower your credit score.